The Nigerian Education Loan Fund (NELFUND) has reaffirmed its dedication to providing inclusive access to student loans for all students who gained admission through the Joint Admissions and Matriculation Board (JAMB).
This commitment was emphasized by the Managing Director of NELFUND, Mr. Akintunde Sawyerr, during a stakeholders' engagement session and technical workshop on the fund's system automation and loan application processes, held in Abuja on Tuesday.
Addressing Concerns
The clarification follows concerns raised by stakeholders from technical institutions, particularly those offering two-phase diploma programs, about their inability to access loans within the timelines of their students' academic programs. Mr. Sawyerr acknowledged initial challenges but emphasized the fund's commitment to closing gaps and ensuring technical students access loans as and when due.
Key Highlights
- *Inclusive Access*: NELFUND is committed to providing inclusive access to student loans for all JAMB-admitted students.
- *Technical Institutions*: The fund recognizes the importance of technical institutions as "engine rooms of innovation and expertise."
- *Automation and Processing*: The workshop focused on automating NELFUND's loan application and processing systems to improve efficiency.
- *Student-Centric Approach*: Mr. Sawyerr emphasized that everything NELFUND does must serve the student, enabling equitable opportunities and access without stress.
Progress and Future Plans
According to Mr Sawyerr, NELFUND has recorded significant progress, with approximately 570,000 registrations and over 515,000 applicants completing the process. The fund aims to process loans efficiently while maintaining thorough due diligence. Mr. Sawyerr assured that the speed of application won't compromise standards, and the fund will continue to prioritize data accuracy, timely verification, and effective communication with students.
Conclusion
NELFUND's commitment to inclusive access to student loans is a significant step towards promoting education and empowering students in Nigeria. By addressing concerns and improving its processes, the fund aims to provide equitable opportunities for all students, regardless of their institution or program
